Residential Landlord – Frequently Asked Questions

  • Are Geysers covered?
    All landlord insurance coverage includes buildings cover that provides for equipment breakdowns, such as Geysers. This covers repair or replacement of your geyser. It does not cover normal wear and tear.
    If you need to make a claim on your geyser, an engineer will have to come and visit your property to assess the equipment before a successful claim can be processed. The engineer will submit his findings to your insurer and they will determine if the claim can be processed.
  • If I receive a quote for insurance coverage, how long is it good for? How far in advance can I request a quote?
    Your insurance coverage quote is valid for 30 days from the day you receive it; you can only request a quote within 30 days in advance.
  • What is my rebuild value?
    Rebuild value is the amount of money it would cost to completely rebuild your building/property in the event it was destroyed beyond repair. The rebuild value puts your home back to the condition it was before the irreparable damage occurred. The rebuild value is different than your property's resale or market value. Your rebuilding cost can be obtained by having a qualified individual such as surveyor, mortgage adviser, or leasing agent, examine your property or by finding 'rebuild calculator' online.
  • What does public liability coverage include?
    Public liability coverage protects you as the property owner from legal liability for death or bodily harm on third-party individuals (other than an employee). It also covers loss or damage to third party property from out of the operation of your business.
  • What does equipment breakdown coverage include?
    Equipment breakdown coverage provides for the electrical and mechanical equipment in your property. This coverage is generally standard on residential landlord insurance policies. If your equipment breaks down, insurers may pay to repair or replace it, subject to your excess payment. The equipment breakdown must also not be from normal wear and tear. The exact equipment that is covered is outlined in your individual policy, depending on what you as the policyholder has selected for coverage. For example, if you purchased 'buildings' coverage, then all the 'built-in" equipment of your building such as geysers, fitted ovens, air conditioning systems, and security/alarm systems are covered by equipment breakdown. If you purchased 'contents' coverage, any freestanding mobile equipment like refrigerators or washing machines, would be covered. If you purchased both buildings and contents coverage, then most of the equipment within your building would be covered. Please see your policy documents to read the terms and conditions of your particular policy.
  • What does employer's liability coverage include?
    Employer's liability coverage protects you as the property or business owner against any claims for compensation from employees who are injured on the job that you are legally liable.
  • What does malicious damage coverage include?
    Malicious damage coverage protects your property from any intentional damage done by people lawfully on the premises, such as tenants or invited visitors. Examples of this kind of intentional damage include vandalism, graffiti, or cannabis farms.
  • Does my landlord insurance coverage provide for rugs or carpets on the property?
    Yes. Floor coverings are provided for under landlord contents coverage. This coverage amount can be increased for your particular policy depending on the size and the needs of your building.
  • What does the legal expenses coverage provide?
    Legal expenses coverage is an optional policy coverage that provides finances for legal costs related to you as a landlord such as: legal defence, eviction of squatters, property damage, contract disputes, and rent recovery. It is also possible to increase the legal expenses coverage to include repossessions.
  • What does Theft by Tenant coverage include?
    Theft by Tenant coverage provides funds for any items of the property stolen by tenants. Examples include copper pipes or Geysers, among others.
  • Do I have to be a business to purchase landlord insurance?
    No, you can buy landlord coverage even if you only own one property on your own, not as a business.
  • What are the coverage exclusions?
    Your policy documents will include any related exclusions, terms, and conditions. For particular questions regarding your policy and any exclusions, please contact our customer service representatives.
  • What is the standard excess and out of pocket cost to me?
    The excess or out of pocket cost to you for your policy is found within your policy documents. If you have any additional questions, please contact us.
  • What form of payment do you accept?
    We accept only payments via monthly debit order, or annual payment by bank transfer. We do not accept cheques or cash.
  • If I renew my policy, do I receive any new documents?
    Yes.